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STATE STREET SMALL/MID CAP EQUITY INDEX FUND
SSMKX (Mutual Fund)
STATE STREET SMALL/MID CAP EQUITY INDEX FUND
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
24.1%
1 yr return
32.2%
3 Yr Avg Return
5.5%
5 Yr Avg Return
12.1%
Net Assets
$628 M
Holdings in Top 10
100.0%
52 WEEK LOW AND HIGH
$330.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.16%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 28.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
SSMKX - Profile
Distributions
- YTD Total Return 24.1%
- 3 Yr Annualized Total Return 5.5%
- 5 Yr Annualized Total Return 12.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.38%
- Dividend Yield 1.3%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameSTATE STREET SMALL/MID CAP EQUITY INDEX FUND
-
Fund Family NameState Street Global Advisors - advised funds
-
Inception DateAug 11, 2015
-
Shares OutstandingN/A
-
Share ClassK
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerTed Janowsky
Fund Description
The Fund uses a passive management strategy designed to track the performance of the Russell Small Cap Completeness Index (the “Index”). The Index is a float-adjusted, market capitalization index which measures the performance of the Russell 3000® Index companies excluding S&P 500® constituents. The Index is constructed to provide a comprehensive and unbiased barometer of the extended broad market beyond the S&P 500 exposure. The Index is completely reconstituted annually to ensure new and growing equities are included. As of February 29, 2024, the market capitalization of the companies included in the Index ranged from $1.14 million to $69.07 billion. As of February 29, 2024, the Index comprised 2,451 securities. As of February 29, 2024, a significant portion of the Index comprised companies in the information technology, industrials, financials and consumer discretionary sectors, although this may change from time to time.
The Fund is not managed according to traditional methods of “active” investment management, which involve the buying and selling of securities based upon economic, financial and market analysis and investment judgment. Instead, the Fund, using a “passive” or “indexing” investment approach, seeks to provide investment results that, before expenses, correspond generally to the total return of the Index.
The Fund generally intends to invest in all stocks comprising the Index in approximate proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all stocks in those weightings. In those circumstances, the Fund may purchase a sample of the stocks in the Index in proportions expected by SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, to match generally the performance of the Index as a whole. In addition, from time to time, stocks are added to or removed from the Index. The Fund may sell securities that are represented in the Index, or purchase securities that are not yet represented in the Index, in anticipation of their removal from or addition to the Index. Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings, if any) in stocks in the Index. The Fund will provide shareholders with at least sixty (60) days' notice prior to any change in this 80% investment policy. The notional value of the Fund's investments in derivatives or other synthetic instruments that provide exposures comparable, in the judgment of the Adviser, to investments in the Index may be counted toward satisfaction of this 80% policy. In addition, the Fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser).
The Fund may purchase or sell futures contracts on the Index, or options on those futures, in lieu of investing directly in the stocks making up the Index. The Fund might do so, for example, in order to increase its investment exposure pending investment of cash in the stocks comprising the Index. Alternatively, the Fund might use futures or options on futures to reduce its investment exposure in situations where it intends to sell a portion of the stocks in its portfolio but the sale has not yet been completed. The Fund may also enter into other derivatives transactions, including the use of options or swap transactions relating to the Index or any securities comprising the Index, in lieu of investing directly in the stocks making up the Index. The Fund may, to the extent permitted by applicable law, invest in shares of other mutual funds whose investment objectives and policies are similar to those of the Fund (including funds advised by the Adviser).
The Fund seeks to achieve its investment objective by investing substantially all of its investable assets in the State Street Small/Mid Cap Equity Index Portfolio, a separate series of the State Street Institutional Investment Trust, with an identical investment objective as the Fund and that has substantially identical investment policies, strategies and risks, to the Fund. When the Fund invests in this “master-feeder” structure, the Fund's only investments are shares of the Portfolio and it participates in the investment returns achieved by the Portfolio.
The Index is sponsored by FTSE Russell (the “Index Provider”), which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index.
SSMKX - Performance
Return Ranking - Trailing
| Period | SSMKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.1% | -3.2% | 49.5% | 11.61% |
| 1 Yr | 32.2% | 6.4% | 56.1% | 11.61% |
| 3 Yr | 5.5%* | -18.0% | 25.7% | 60.92% |
| 5 Yr | 12.1%* | 0.3% | 25.8% | 23.08% |
| 10 Yr | N/A* | 3.0% | 13.9% | N/A |
* Annualized
Return Ranking - Calendar
| Period | SSMKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 22.1% | -12.9% | 28.8% | 5.95% |
| 2022 | -36.4% | -52.6% | 20.1% | 98.86% |
| 2021 | 2.5% | -43.8% | 32.4% | 83.09% |
| 2020 | 30.5% | -10.6% | 82.1% | 0.60% |
| 2019 | 20.9% | -8.5% | 37.5% | 64.10% |
Total Return Ranking - Trailing
| Period | SSMKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 24.1% | -3.2% | 49.5% | 11.61% |
| 1 Yr | 32.2% | 6.4% | 56.1% | 11.61% |
| 3 Yr | 5.5%* | -18.0% | 25.7% | 60.92% |
| 5 Yr | 12.1%* | 0.3% | 25.8% | 23.08% |
| 10 Yr | N/A* | 3.0% | 13.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | SSMKX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 25.2% | 1.2% | 31.3% | 6.80% |
| 2022 | -25.4% | -45.7% | 21.1% | 97.71% |
| 2021 | 12.4% | -30.2% | 52.8% | 95.92% |
| 2020 | 32.4% | -8.4% | 84.3% | 0.60% |
| 2019 | 27.8% | 1.0% | 43.4% | 44.55% |
NAV & Total Return History
SSMKX - Holdings
Concentration Analysis
| SSMKX | Category Low | Category High | SSMKX % Rank | |
|---|---|---|---|---|
| Net Assets | 628 M | 728 K | 175 B | 43.66% |
| Number of Holdings | 1 | 1 | 2780 | 99.72% |
| Net Assets in Top 10 | 359 M | 402 K | 15.4 B | 21.97% |
| Weighting of Top 10 | 100.00% | 0.5% | 100.0% | 0.85% |
Top 10 Holdings
- State Street Small/Mid Cap Equity Index 100.00%
Asset Allocation
| Weighting | Return Low | Return High | SSMKX % Rank | |
|---|---|---|---|---|
| Stocks | 98.88% | 0.86% | 100.25% | 42.25% |
| Cash | 1.11% | 0.00% | 99.07% | 64.79% |
| Preferred Stocks | 0.00% | 0.00% | 11.12% | 41.41% |
| Other | 0.00% | 0.00% | 51.08% | 60.85% |
| Convertible Bonds | 0.00% | 0.00% | 1.78% | 41.69% |
| Bonds | 0.00% | 0.00% | 72.71% | 46.20% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | SSMKX % Rank | |
|---|---|---|---|---|
| Technology | 23.08% | 0.00% | 40.65% | 10.73% |
| Financial Services | 13.96% | 0.00% | 46.10% | 55.93% |
| Industrials | 12.51% | 0.00% | 45.89% | 81.64% |
| Healthcare | 11.83% | 0.00% | 24.06% | 29.38% |
| Consumer Cyclical | 10.85% | 2.49% | 46.48% | 65.54% |
| Real Estate | 9.39% | 0.00% | 25.82% | 26.84% |
| Energy | 4.39% | 0.00% | 58.13% | 61.86% |
| Basic Materials | 4.04% | 0.00% | 16.35% | 76.27% |
| Communication Services | 3.98% | 0.00% | 30.98% | 16.95% |
| Consumer Defense | 3.53% | 0.00% | 32.18% | 74.29% |
| Utilities | 2.45% | 0.00% | 18.97% | 72.60% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | SSMKX % Rank | |
|---|---|---|---|---|
| US | 97.61% | 0.86% | 100.25% | 67.04% |
| Non US | 1.27% | 0.00% | 10.11% | 12.96% |
SSMKX - Expenses
Operational Fees
| SSMKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.16% | 0.03% | 19.40% | 93.20% |
| Management Fee | 0.03% | 0.00% | 1.50% | 1.98% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 11.45% |
| Administrative Fee | 0.05% | 0.01% | 0.30% | 21.15% |
Sales Fees
| SSMKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| SSMKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| SSMKX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 28.00% | 0.00% | 304.00% | 31.65% |
SSMKX - Distributions
Dividend Yield Analysis
| SSMKX | Category Low | Category High | SSMKX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.33% | 0.00% | 29.78% | 23.66% |
Dividend Distribution Analysis
| SSMKX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| SSMKX | Category Low | Category High | SSMKX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.38% | -2.06% | 3.38% | 0.28% |
Capital Gain Distribution Analysis
| SSMKX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 26, 2023 | $4.394 | OrdinaryDividend |
| Dec 26, 2023 | $0.117 | CapitalGainShortTerm |
| Dec 26, 2023 | $2.228 | CapitalGainLongTerm |
| Dec 27, 2022 | $36.869 | OrdinaryDividend |
| Dec 28, 2021 | $32.856 | OrdinaryDividend |
| Dec 29, 2020 | $4.852 | OrdinaryDividend |
| Dec 27, 2019 | $5.792 | OrdinaryDividend |
| Dec 27, 2019 | $8.786 | CapitalGainLongTerm |
| Dec 27, 2018 | $4.094 | CapitalGainLongTerm |
| Dec 27, 2018 | $3.612 | OrdinaryDividend |
| Dec 22, 2017 | $1.285 | CapitalGainShortTerm |
| Dec 22, 2017 | $6.203 | CapitalGainLongTerm |
| Dec 22, 2017 | $5.698 | OrdinaryDividend |
| Dec 23, 2016 | $0.010 | CapitalGainLongTerm |
| Dec 23, 2016 | $2.766 | OrdinaryDividend |
| Dec 23, 2015 | $1.256 | OrdinaryDividend |
SSMKX - Fund Manager Analysis
Managers
Ted Janowsky
Start Date
Tenure
Tenure Rank
Aug 12, 2015
6.81
6.8%
Ted Janowsky, CFA, is a Vice President of SSGA and a Senior Portfolio Manager in the Global Equity Beta Solutions Group. In this capacity, he manages a diverse group of equity and derivative-based index portfolios and has played a significant role designing proprietary portfolio management software. Mr. Janowsky is head of the portfolio management team of SSGA's Company Stock Group, which manages all fiduciary transactions and company stock investments including employee stock ownership plans, 401(k) plans, defined benefit plans and non-qualified plans. Prior to joining the Global Equity Beta Solutions Group, he worked as an application developer in Investor Technology Services within State Street Corporation. He also worked as a business analyst in State Street's London and Sydney offices. Mr. Janowsky joined SSGA in 2005. Mr. Janowsky holds a Bachelor of Science in Business Administration from Bucknell University and a Master of Business Administration from the Carroll School of Management at Boston College. He has also earned the Chartered Financial Analyst (CFA) designation and is a member of the CFA Institute and the Boston Security Analysts Society.
Michael Feehily
Start Date
Tenure
Tenure Rank
Aug 12, 2015
6.81
6.8%
Mr. Feehily, CFA, is a Managing Director of SSGA and the Adviser and Co-Head of Passive Equity Strategies in North America in the Global Equity Beta Solutions Group. In this capacity, Mr. Feehily has oversight of the North American Passive Equity teams in Boston and Montreal. In addition, Mr. Feehily is a member of the Senior Management Group. Mr. Feehily rejoined SSgA in 2010 after spending the previous four years at State Street Global Markets LLC where he helped to build the Exposure Solutions business.
Karl Schneider
Start Date
Tenure
Tenure Rank
Aug 12, 2015
6.81
6.8%
Karl Schneider, CAIA, is a Vice President of SSGA and SSGA FM, and Head of U.S. Equity Strategies for GEBS, where in addition to overseeing the management of the U.S. equity index strategies, he also serves as a portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for synthetic beta strategies, including commodities, buy/write, and hedge fund replication. Prior to joining GEBS, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1996. Mr. Schneider holds a BS in finance and investments from Babson College and an MS in finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation. Mr. Schneider is a member of the CAIA Association.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.25 | 38.44 | 7.3 | 5.78 |
